EL SALVADOR MAY CHANGE BITCOIN POLICY FOR INTERNATIONAL MONETARY FUND LOAN
A delegation from the IMF has arrived in El Salvador, which will work over the next 2-3 weeks to negotiate a loan program of about $1.3 billion in exchange for changes in the policy of adopting bitcoin as legal tender. In particular, the administration of Nayib Bukele must limit the scope of the Bitcoin Law.
To this end, it is proposed to cancel the requirement to accept bitcoin as a means of payment and make this form of payment 'voluntary.' In addition, the government of the Latin American country must stop recognizing bitcoin as legal currency and limit the use of BTC in the public sector.
The IMF has stated that if a consensus is reached, El Salvador will return to the international financial community and will also gain access to an additional $2 billion in credit from the World Bank and the Inter-American Development Bank (IDB).
President of El Salvador Nayib Bukele reported that after bitcoin surpassed the $100,000 mark, the country's profit exceeded $300 million.